Group 1: Talent Movement in Securities Firms - The rapid turnover of Chief Information Officers (CIOs) in the securities industry reflects a talent competition driven by industry transformation, with at least 13 firms changing their CIOs this year [1][2] - Notable movements include He Jiang, the former CIO of First Capital Securities, potentially returning to Southwest Securities, where he began his career [1][2] - The trend indicates a significant shift in the technology talent landscape within the securities sector, emphasizing the importance of technology investment [2] Group 2: Approval of Hard Technology Themed Funds - On November 21, 16 hard technology themed funds were approved, including several ETFs focused on artificial intelligence and chips, signaling a substantial influx of capital into the market [3][4] - This approval highlights ongoing policy support for technological innovation, with direct benefits expected for sectors like artificial intelligence and semiconductor industries [3][4] - The move is anticipated to enhance liquidity and market activity in the STAR Market, reinforcing investor confidence in the technology growth sector [4] Group 3: Fund Issuance Trends - The new fund issuance in 2025 has reached 1,340 funds with a total scale of approximately 1,044.6 billion, marking the seventh consecutive year of exceeding the trillion yuan threshold [4] - Active equity products, particularly stock and mixed funds, have become the dominant force in new fund issuance, contributing over half of the total scale [4] - This trend reflects a long-term confidence in equity assets, benefiting asset management firms and potentially increasing capital inflows into the A-share market [4] Group 4: Transaction by Founder Securities - Founder Securities announced the completion of a share transfer of approximately 4.35 billion yuan from its holdings in Shengjing Bank, enhancing its liquidity and focusing on core business development [5][6] - This transaction may prompt market attention towards the divestment of non-core assets by securities firms, accelerating resource integration within the financial sector [6] - Overall, such capital operations are expected to boost investor confidence in the governance optimization of financial enterprises, providing a positive market signal [6]

Core Points - On November 21, 2025, the company announced the acceptance of an offer from Shenyang Shengjing Jin控 Investment Group Co., Ltd. to sell 300 million shares of Shengjing Bank at a price of 1.45 yuan per share [1] - The transfer of shares has been completed, and the company no longer holds any shares in Shengjing Bank [1] - The company received a payment of 434.925 million yuan for the share transfer after deducting relevant fees [1]

Core Points - Fangzheng Securities announced the acceptance of an offer from Shenyang Shengjing Jin控 Investment Group to sell 300 million shares of Shengjing Bank at a price of 1.45 yuan per share [2] - The transfer of shares has been completed, and Fangzheng Securities no longer holds any shares in Shengjing Bank [2] - The total payment received by Fangzheng Securities for the share transfer was 43.4925 million yuan after deducting relevant fees [2]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內 容 概 不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示，概 不對因本公告全部或任何部分內容而產生或因倚賴該等內容而引致的 任 何 損 失 承 擔 任 何 責 任。 本 公 告 僅 供 參 考，並 不 擬 及 不 構 成 收 購、購 買 或 認 購 本 行 或 要 約 人 的 任 何 證 券 的 邀 請 或 要 約 或 該 等 邀 請 或 要 約 的 一 部 分，或 於 任 何 司 法 權 區 招 攬 任 何 表 決 或 批 准，亦 不 得 在 與 適 用 法 律 相 牴 觸 的 情 況 下 於 任 何 司 法 權 區 出 售、發 行 或 轉 讓 本 行 證 券。 若 構 成 違 反 任 何 司 法 權 區 的 適 用 法 律 或 規 例，則 本 公 告 所 載 全 部 或 部 分 資 料 不 得 於、向 或 從 該 司 法 權 區 發 佈、刊 發 或 派 發。 Shenyang Shengjing Financial Holding Investment Group Co., Ltd.* 瀋陽盛京 ...

Core Viewpoint - The implementation of the "Liaoning Province Marine Fishing Vessel Renovation and Reduction Work Plan" marks a significant step towards high-quality development in the fishing industry, contributing to the construction of a strong marine province in Liaoning [1] Group 1: Policy and Strategic Alignment - The plan aligns with national strategies such as rural revitalization and the development of a strong agricultural and marine economy, emphasizing the importance of the fishing industry for coastal communities [2] - Shengjing Bank actively supports local fishing industry development by implementing policies that facilitate financial services tailored to the needs of fishermen [2] Group 2: Financial Product Innovation - Shengjing Bank has developed a specialized loan product called "Fishing Vessel Loan" to address the financing challenges faced by fishermen, focusing on their specific needs and preferences [3] - The loan product offers flexible loan amounts, with individual fishermen eligible for up to 5 million yuan and small enterprises or cooperatives up to 20 million yuan, ensuring comprehensive coverage of financing needs [4] Group 3: Cost Reduction and Market Activation - To alleviate the financial burden on fishermen, Shengjing Bank provides multiple interest rate and fee discounts on the "Fishing Vessel Loan," significantly reducing financing costs [5] - For example, a 100,000 yuan loan over three years can save fishermen nearly 10,000 yuan in interest due to the bank's special rate discounts [5] Group 4: Efficient Approval Processes - The bank has optimized the approval process for the "Fishing Vessel Loan" to meet the urgent funding needs of fishermen, implementing a streamlined and efficient mechanism [7] - Approval authority has been delegated to local branches for loans up to 3 million yuan, expediting the process and ensuring timely access to funds [7] Group 5: Comprehensive Support System - Shengjing Bank has established a multi-level support system to ensure the effective implementation of the "Fishing Vessel Loan," involving collaboration across departments and branches [8] - Specialized teams at various branch levels are dedicated to customer service, loan application processing, and on-site investigations, enhancing the overall customer experience [8] Group 6: Successful Implementation and Outreach - The first "Fishing Vessel Loan" has been successfully disbursed by Shengjing Bank's Dalian branch, demonstrating the bank's commitment to supporting local fishing industry upgrades [9] - The bank's outreach efforts include engaging with fishermen directly and providing guidance on financial products and government subsidies, fostering trust and collaboration [10]

Core Insights - The article highlights the top short-selling ratios and amounts for various companies, indicating significant market sentiment against these stocks [1][2]. Short-Selling Ratios - The top three companies with the highest short-selling ratios are Hang Seng Bank-R (80011) and BYD Company-R (81211), both at 100.00%, followed by Kuaishou-WR (81024) at 90.79% [1][2]. - The short-selling ratio for Shengjing Bank (02066) is 83.46%, while Meituan-WR (83690) has a ratio of 77.62% [2]. Short-Selling Amounts - The companies with the highest short-selling amounts are Xiaomi Group-W (01810) at 2.038 billion, Tencent Holdings (00700) at 1.705 billion, and Pop Mart (09992) at 1.689 billion [1][2]. - Other notable companies include Alibaba-SW (09988) with 1.451 billion and Ping An Insurance (02318) with 1.368 billion [2]. Short-Selling Deviation Values - The top three companies with the highest deviation values are Shengjing Bank (02066) at 71.47%, Hang Seng Bank-R (80011) at 60.71%, and BYD Company-R (81211) at 49.79% [1][2]. - Kuaishou-WR (81024) has a deviation value of 40.46%, indicating a significant difference from its historical short-selling average [2].

Short Selling Ratios - Anta Sports (82020) has the highest short selling ratio at 100.00% with a short selling amount of 440,500 HKD [1][2] - Lenovo Group (80992) follows with a short selling ratio of 88.65% and a short selling amount of 803,600 HKD [1][2] - Xiaomi Group (81810) ranks third with a short selling ratio of 75.57% and a short selling amount of 1,474,100 HKD [1][2] Short Selling Amounts - Alibaba (09988) leads in short selling amount with 2.261 billion HKD and a short selling ratio of 16.63% [1][2] - Tencent Holdings (00700) is second with a short selling amount of 1.662 billion HKD and a short selling ratio of 19.83% [1][2] - Semiconductor Manufacturing International Corporation (00981) ranks third with a short selling amount of 926 million HKD and a short selling ratio of 10.37% [1][2] Deviation Values - Shengjing Bank (02066) has the highest deviation value at 60.67% with a short selling ratio of 72.42% [1][2] - Xiaomi Group (81810) also shows a significant deviation value of 47.28% [1][2] - The third highest deviation value is not specified but is noted to be 39.69% for an unspecified stock [1][2]

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年10月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 盛京銀行股份有限公司 (「本行」) 呈交日期: 2025年11月5日 備註： 第 1 頁 共 11 頁 v 1.1.1 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | H | | 於香港聯交所上市 (註1) | | 是 | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 02066 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 2,340,742,500 | RMB | | 1 | RMB | | 2,340,742,500 | | 增加 / 減少 (-) | | | 0 | | | | RMB | | 0 | | 本月底結存 | | | 2,340,742,500 | RMB | | 1 ...

Core Viewpoint - The company, Founder Securities, is focusing on its core business by completely divesting its stake in Shengjing Bank, selling 300 million shares for a total consideration of 435 million yuan, as part of a broader strategy to optimize asset management and improve capital efficiency [2][4][7]. Financial Performance - For the first three quarters of the year, Founder Securities reported total revenue of 9.08 billion yuan, a year-on-year increase of 67.17%, and a net profit of 3.80 billion yuan, up 93.31% [3][10]. - In Q3 alone, the company achieved revenue of 3.42 billion yuan, reflecting a 99.89% increase year-on-year, with net profit soaring by 130.46% to 1.42 billion yuan [10]. Asset Disposal Actions - The sale of Shengjing Bank shares is part of a series of asset disposals, including the sale of a landmark property in Zhengzhou for 730 million yuan and the divestment of a 49% stake in Credit Suisse Securities for 885 million yuan, with total cash recovery expected to exceed 2 billion yuan [2][8][9]. - The divestment of Shengjing Bank is linked to the bank's privatization and delisting process, initiated by its major shareholder, Shengjing Financial Holdings, which has made a cash offer to acquire all remaining shares [4][6]. Revenue Breakdown - The wealth management segment has been the largest contributor to the company's revenue growth, with net commission income from this segment reaching 4.93 billion yuan, a 69.82% increase year-on-year [11]. - The brokerage business saw a significant rise in net commission income, totaling 4.17 billion yuan, up 81.39% year-on-year, while investment banking fees slightly decreased [11]. Investment and Trading Contributions - Investment and trading activities have also significantly contributed to the company's earnings, with investment income reaching 3.35 billion yuan, a 68.86% increase, primarily due to higher returns from financial instruments [12].

Core Viewpoint - Fangzheng Securities has agreed to sell 300 million shares of Shengjing Bank to Shengjing Jin控 for a total consideration of 435 million yuan, marking a significant asset restructuring move for the company [1][2]. Group 1: Asset Sale and Financial Impact - The sale of Shengjing Bank shares is part of a broader privatization and delisting strategy for Shengjing Bank, with the buyout price for domestic shares set at 1.2 yuan per share [2]. - Following the transaction, Fangzheng Securities will no longer hold shares in Shengjing Bank, which will enhance the company's cash flow by 435 million yuan [2]. - The transaction price is below the book value of the shares, which is expected to reduce the net profit attributable to shareholders by approximately 449 million yuan for the current fiscal year [2]. Group 2: Recent Asset Disposals - Since 2024, Fangzheng Securities has been actively disposing of non-core assets, including the sale of a 49% stake in Credit Suisse Securities [3]. - The company has also initiated the sale of distressed assets, with an initial payment of 219 million yuan received for properties in Zhengzhou [3][4]. - After completing these asset disposals, Fangzheng Securities is expected to recover over 2 billion yuan in cash [4]. Group 3: Financial Performance - In the third quarter, Fangzheng Securities reported a revenue of 3.419 billion yuan, a year-on-year increase of 99.89%, and a net profit of 1.415 billion yuan, up 130.46% [5]. - For the first three quarters, total revenue reached 9.082 billion yuan, reflecting a 67.17% increase, while net profit was 3.799 billion yuan, a 93.31% rise [5]. - The wealth management segment significantly contributed to the revenue growth, with net commission income of 4.932 billion yuan, up 69.82% [5]. - Investment income also saw a substantial increase, reaching 3.351 billion yuan, a 68.86% growth, driven by higher returns from financial instruments [6].